Why William Ruto is under fire over Safaricom, KPC sale

Kenya Pipeline Company (KPC) petroleum storage facilities in Nairobi on August 21, 2024. [Kanyiri Wahito, Standard]

The government’s push seen in recent weeks to sell its stake in Safaricom and the Kenya Pipeline Company demonstrates Kenya Kwanza’s resolve to sell what is deemed as strategic national assets, despite the protests by many Kenyans. 

In the last week, Parliament has been receiving public views on the sale of National Treasury’s 15 per cent stake in Safaricom to Vodacom, a move that will dilute government’s stake to 20 per cent, while increasing Vodacom’s shareholding to a controlling 55 per cent.